The fund's primary investment objective is to provide a high level of current income and gains from net index option premiums. The fund's secondary investment objective is to seek capital appreciation consistent with the fund's strategy and its primary objective.
- Attractive quarterly distributions
- Capital appreciation, consistent with the Funds’ index option strategy
- A measure of downside protection in rapidly declining markets
- Tax-advantaged income from an index option strategy and equity dividends
The fund invests in an equity portfolio that seeks to substantially replicate price movements of a 75% / 25% combination of the S&P 500 Stock Index and the NASDAQ-100 Stock Index, respectively. The fund also sells S&P 500 and NASDAQ index call options in the same 75% / 25% ratio covering approximately 100% of the value of the fund’s equity portfolio, seeking to enhance risk-adjusted performance relative to an all equity portfolio.
|Closing Share Price (As of 12/19/2014)||$12.21
|Closing NAV per Share (As of 12/19/2014)||$13.37
|Premium / Discount**||-8.68%
|Current Distribution Rate (Market price)††||8.32%
|Distribution Amount (Quarterly)††||$0.2540
|Distribution Type ||Managed Distribution
Potential distribution sources include net investment income, realized gains and return of capital. If a distribution includes anything other than net investment income, the fund provides a notice of the best estimate of its distribution sources at that time which may be viewed at www.nuveen.com/CEFdistributions. These estimates may not match the final tax characterization (for the full year’s distributions) contained in shareholders’ 1099-DIV forms after the end of the year. Under its Managed Distribution policy, the fund seeks to maintain an attractive and stable regular distribution amount that, over the long term, matches the fund’s total distributions paid to its total return. You should not draw any conclusions about a fund’s past or future investment performance from its current distribution rate.
Distribution rates represent the latest declared regular distribution, annualized, relative to the most recent market price and NAV. Special distributions, including special capital gains distributions, are not included in the calculation.